EPA’s Estimate of the “Social Cost of Methane” Used to Justify New Source Performance Standards for the Oil and Natural Gas Industry

By | Fracking Insider | August 19, 2015
EPA’s Estimate of the “Social Cost of Methane” Used to Justify New Source Performance Standards for the Oil and Natural Gas Industry

On Tuesday, August 18, 2015, the U.S. Environmental Protection Agency (“EPA”) issued proposed New Source Performance Standards (“NSPS”) under the Clean Air Act covering methane and volatile organic compound (“VOC”) emissions for certain equipment, processes, and activities in the oil and natural gas source category—including hydraulic fracturing and refractured oil wells that can contain natural gas as well as oil.